Topic: It's over. Bitcoin is finished. - page 5. (Read 19496 times)
RENAME THE THREAD:
It's over. lm2f's dumbness is finished.
The last bubble was bitcoin's last hope for establishing itself, now that it's crashed in the middle of the media spotlight, no one will have confidence in it anymore. Have fun holding the last tulip when it all comes crashing down. Serves the gullible idiots right for buying into a ponzi scheme posing as a fake currency.
might wanna google what a ponzi scheme is. doesnt really fit the description of bitcoin. we all know its very volatile. of course something that gained value 10 fold in the space of a month is going to come back down and even out at a lower price...
tool :/
It's impossible for the USD to collapse anytime soon. Too many countries have large reserves in it to let it fail.
*facepalm*
"The USD is just too bloated, big, fat, unhealthy and out of shape to have a heart attack"
And, thanks to Obamacare, a nurse is on standby.
But anyway, stop spreading FUD and spamming the forum with prophesies like "Bitcoin is going to die", "Bitcoin is crashing". Nobody wants to read such things, and they are never true anyway (haven't been so far). F*ck of OP and everyone else who spreads lies using new accounts. (rage of the day)
Although bitcoin is far from finished it was a big hit and everyone that doesn't see that is just a fool.
It was a hit because it remind it to everyone how volatile bitcoin still is and negative press will focus on that from now on.
It was a hit because it remind it to everyone how volatile bitcoin still is and negative press will focus on that from now on.
As far as I'm concerned this is a good thing. Bitcoin isn't yet ready for adoption by the mass public. The number of transactions per second it can handle is tiny. The minimum transaction fee is static and not easily able to float with the changing BTC value. We don't yet have secure hardware wallets which can generate addresses, store addresses, and sign transactions all completely offline. There aren't any well-known reliable producers of ASIC miners which are shipping immediately. There are relatively few well-known exchanges, and even fewer which are convenient to use. 85% of the hashing power is controlled by 11 miners/pools. These 11 miners/pools are all using software which heavily derived from, if not outright duplicative of, a single software implementation. The pool systems rely on the fact that people are using the standard software or at least aren't gaming the system to their personal advantage. Etc. Etc.
The number of transactions , currently 7tps can be easily improved raising the block limits. Although it is not necessary now.
The fee it's not static , and there isn't a minimum transaction fee. There is a 27Kb space for free transactions in each block. Also the minimum fee can be easily changed.
This is such early days still, it's like starting a thread saying your sons failed his university degree.... when he's still 4 months old.
True. For gold, silver, platinum, copper, nickel, palladium, and others, when there's a blackout or the Internet gets shut down, they still offer purchasing power.
Of course, when things really get hairy, nothing beats a small family farm.
Of course, when things really get hairy, nothing beats a small family farm.
The whole "bitcoin is money" thing needs time to solidify in peoples minds. This could potentially take decades or centuries to achieve the same kind of trust that something like gold has. We are so early in Bitcoin's history, that it's easy to flip your mind from "bitcoin is money" to "bitcoin is worthless". The truth is that no one knows if bitcoin really will prove to be money over the long term.
When the price grows 10x in 1 month, suddenly we're supposed to have 10x the confidence in it, which is really hard to do for such a new and complicated technology. Doubts will emerge in peoples minds and they will sell, creating the boom/bust cycles we see.
The more years bitcoin spends with a high valuation, the less of a "house of cards" it will feel like, and the more confidence people will put in it. If it can last 30 years, I think people will really start to value it highly.
The future is uncertain, but it is far from over.
When the price grows 10x in 1 month, suddenly we're supposed to have 10x the confidence in it, which is really hard to do for such a new and complicated technology. Doubts will emerge in peoples minds and they will sell, creating the boom/bust cycles we see.
The more years bitcoin spends with a high valuation, the less of a "house of cards" it will feel like, and the more confidence people will put in it. If it can last 30 years, I think people will really start to value it highly.
The future is uncertain, but it is far from over.
The Fed is a privately owned bank, owned by a handful of powerful Wall Street cartels that also own the media and almost everything else.
Bitcoin is still riding high because the Chinese are still buying them up more rapidly than they can be produced.
Bitcoin is still riding high because the Chinese are still buying them up more rapidly than they can be produced.
... buying opportunity 
Back above 1200 by March-April. Some bigger money is getting itself well-positioned, it is how each phase has played out as the total capitalisation value allows bigger players to enter ... as the previous (smaller) fish are trying to exit ...
Back above 1200 by March-April. Some bigger money is getting itself well-positioned, it is how each phase has played out as the total capitalisation value allows bigger players to enter ... as the previous (smaller) fish are trying to exit ...
Good luck, I'd rather wait until it actually starts rising.
If it doesn't rise, then you could be waiting years. Don't forget the opportunity cost of money.
Idiot.
Opportunity cost of holding money has been all fiat negative since bitcoin was created .... how does that compute?
Wrong you clearly don't understand that any currency or commodity has time value. There are real interest rates. So, effectively you assume everyone just puts money in a mattress...........
Strawman Arguments..... You win. Lol
I think there are plans to create a Federal (FED)crypto 1.25 trillion will initially be issued followed by 85billion mined per month - I can't see it catching on.
People that sold low are going to regret it a few months down the road. This is a good time for any 'Bitcoin Newbie' to get in while prices are below $800!!
See you
See you
Nurse Rached is hawt.
Thanks for saving the thread.
Thanks for saving the thread.
It's impossible for the USD to collapse anytime soon. Too many countries have large reserves in it to let it fail.
*facepalm*
"The USD is just too bloated, big, fat, unhealthy and out of shape to have a heart attack"
And, thanks to Obamacare, a nurse is on standby.
Bruno, you can't use a reference to One Flew Over The Cuckoo's Nest here. These people are all children compared to us. They won't know what you're talking about using a movie reference from 1975. That movie is twice the age of the average forum member!
It's impossible for the USD to collapse anytime soon. Too many countries have large reserves in it to let it fail.
*facepalm*
"The USD is just too bloated, big, fat, unhealthy and out of shape to have a heart attack"
And, thanks to Obamacare, a nurse is on standby.
Although bitcoin is far from finished it was a big hit and everyone that doesn't see that is just a fool.
It was a hit because it remind it to everyone how volatile bitcoin still is and negative press will focus on that from now on.
It was a hit because it remind it to everyone how volatile bitcoin still is and negative press will focus on that from now on.
As far as I'm concerned this is a good thing. Bitcoin isn't yet ready for adoption by the mass public. The number of transactions per second it can handle is tiny. The minimum transaction fee is static and not easily able to float with the changing BTC value. We don't yet have secure hardware wallets which can generate addresses, store addresses, and sign transactions all completely offline. There aren't any well-known reliable producers of ASIC miners which are shipping immediately. There are relatively few well-known exchanges, and even fewer which are convenient to use. Etc. Etc.
The last bubble was bitcoin's last hope for establishing itself, now that it's crashed in the middle of the media spotlight, no one will have confidence in it anymore. Have fun holding the last tulip when it all comes crashing down. Serves the gullible idiots right for buying into a ponzi scheme posing as a fake currency.
then why are you in BITCOIN FORUM?
if you think bitcoin is a ponzi scheme...
what are you doing here?
EXACTLY RIGHT !!!!
FUD alert.
The last bubble was bitcoin's last hope for establishing itself, now that it's crashed in the middle of the media spotlight, no one will have confidence in it anymore. Have fun holding the last tulip when it all comes crashing down. Serves the gullible idiots right for buying into a ponzi scheme posing as a fake currency.
Someone say something that rebukes this. So far all I've seen are just people saying 'yeah it will rise again'
The same people that said 'no it won't crash below $1000 again'
Feeling pretty hopeless about BTC right now...
The fundamentals of bitcoin have not changed. What it can do (allow anyone in the world to safely, securely, with minimal cost and almost instantaneously transfer funds to anyone else) have not changed.
In fact, things are many times better than they were 6 months ago. Many new bitcoin based businesses are coming online to help with it all. There are tons more places to spend your coin. Governments have issued official policies so they gray area is becoming clearer. The basic technology is sound and the community support has shown that even issues that arise can be overcome (such as the db issue in the spring or Android wallet security in the summer). The demise of silk road showed that the bitcoin is not dependant on drugs or any such nonesense).
Bitcoin has a price driven by supply and demand, as does any unregulated market. There will be price swings, but if your opinion of Bitcoin is solely driven by price then you really are missing the bigger picture.
Personally I am looking forward to more places to use it, so I can reduce my dependence on banks and credit cards and all the dangers and costs of those things. Sure the price increase is nice for any coins in my wallet, but that's not the exciting part.
If you haven't already, I suggest you buy something with bitcoin. It is an incredibly liberating experience and until you do so you won't have a real appreciation of its power. The OP stated he hasn't used bitcoin, so it's clear why he can't really understand it...
This is nothing. Bitcoin was never intended to be traded by Chinese banks anyway. Who cares.
Pick up some cheap bitcoin while you can folks. It'll be 1200+ again within a few weeks.
Pick up some cheap bitcoin while you can folks. It'll be 1200+ again within a few weeks.
Again, I'm forced to ask: Regardless of whether or not it would be possible or practical, should we put together an altcoin that is resistant to this volatility? The only things worse than having one one printing press cranking out fiat paper and binary numbers without mercy is 77 printing presses doing so.
The fact that it's impossible makes this question basically irrelevant.
How on earth would you even create an altcoin that is "resistant" to USD price volatility?
The only altcoin that would resist volatility would be an altcoin that can't change hands!
Ask Fuserleer.
... buying opportunity
Back above 1200 by March-April. Some bigger money is getting itself well-positioned, it is how each phase has played out as the total capitalisation value allows bigger players to enter ... as the previous (smaller) fish are trying to exit ...
Back above 1200 by March-April. Some bigger money is getting itself well-positioned, it is how each phase has played out as the total capitalisation value allows bigger players to enter ... as the previous (smaller) fish are trying to exit ...
Good luck, I'd rather wait until it actually starts rising.
If it doesn't rise, then you could be waiting years. Don't forget the opportunity cost of money.
Idiot.
Opportunity cost of holding money has been all fiat negative since bitcoin was created .... how does that compute?
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